Fed's Barkin: "That's a quite strong jobs report"

Barkin said companies are reluctant to layoff workers even with consumption showing signs of moderating because the experience of the ultra-tight job market in the early months of the pandemic remain fresh in employers' minds. Shortly before Barkin spoke, the Labor Department had reported that a greater-than-expected 303,000 jobs had been created in March - the most since last May - and that the unemployment rate had dropped to 3.8% from 3.9%.

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